ITAR-TASS: Japan Mulls Moving The Capitol From Tokyo To Osaka; Michio Kaku Holds No Punches In Latest Interview, Says TEPCO In Denial; Billion Prices Project At MIT Shows Annual US Inflation is 10.5%; Unemployment Spikes "Unexpectedly"; Iceland Votes Against Bankers; Portugal, Spain, Greece Sinking Deeper

Oooooh! Look at the pretty picture! Who says you can't look at the sun? Keeping an eye on this big guy as he begins to heat up. More big earthquakes and/or volcanoes and/or strange weather on the way? Watch for solar flares (CME)...

As the catastrophe in Japan plays on, don't be surprised to see some very strange and otherwise useful information slowly being disseminated in drips and drabs from Japan. Take for example yesterday's revelation from Prime Minister Kan who was quoted as saying to an adviser "the evacuation zone around Fukushima will be uninhabitable," for quite possibly decades according to the Japanese newspaper Yomiuri. Now today, a European newspaper quoting sources from the ITAR-TASS is reporting Japan is "mulling moving the capitol from Tokyo" to possibly Osaka or Nagoya due to rising radiation levels and powerful earthquakes which continue to strike Japan. Which explains why world renowned Dr. Michio Kaku says in an excellent interview that his family is moving out of Tokyo and the people are "voting with their feet" by leaving voluntarily. If you haven't seen this interview, I suggest you take a few minutes and watch it through to the end.

Unless you don't drive or do your own food shopping, you already know that inflation is already here. The official numbers, which are not only based on outmoded calculation metrics but are obviously made to remove inflation, are far from reality. MIT has devised an excellent inflation metric called "The Billion Prices Project" which not only is updated often but it tracks inflation the way the average person feels it - in their wallet. We know those guys at MIT are purrrrrty smart guys so when they say annual inflation is at 10.5%, we know they are purrrrty close to the real figure.

In this tragic comedy we call a "global economy," we often see radioactive headlines like "JPMorgan Chase Earnings Up 67% On Economic Recovery" which are then countered with reality like unemployment going up, up and away. Just like anyone with half a radioactive brain knew March 12th that the evacuation zone in Japan would be rendered uninhabitable, we also know inflation is here and unemployment is getting worse, not better since June 2009 when this recession officially ended.

As reported here on Tuesday, Iceland voted by a wide margin not to pay back the banksters and cut loose the chains and risks a downgrade of their debt to junk status. As another article points out, "Iceland declared independence" with that vote. Keep an eye on that situation. And with your other eye, keep an eye on Greece which has seen bond yields explode over 13.2% last night as they lose grip on the situation. Even China the ECB can't save them now. Portugal is following in the footsteps of Greece and of course would not be a good follower without a general strike as the WSJ is reporting. Of course, the last time Portugal had a general strike, the entire country shut down. We're sure this is bullish for the global economy.